Second homes, or vacation homes and flats, are emerging as lucrative investment options in real estate. These homes and flats , which generally come in villa formats, provide the essence of “a home away from home”, and can provide options for weekend getaway for the family. While scouting for real estate projects offering second home housing, the primary criterion is always the location. Its always beneficial if the house that you buy is located in a destination which has an aesthetic quotient, and hence has the potential to attract visitors. Secondly, it is imperative to understand the real estate or property development plan of the township in which you intend to buy the house and flats. The villa should be associated with adequate plot areas, and individual villas should be adequately spaced out within the township, to ensure privacy and serenity for all residents. Basic amenities like water, power and medical facilities should be provided. It is also essential to have cognizance whether the property developer has all clearances in place so that he can adhere to specified timelines. Some real estate developers do offer a rent back scheme, wherein you shall be guaranteed a minimum period of stay, and for the balance period, the house shall be rented out, generating additional rental income. In such cases, it is advisable to read the fine prints of the agreement, do a check on the prevailing rental rates and the premium you envisage for the township development, and also the tenants who shall be considered.